Rupert Murdoch Retires from Fox, News Corp. Chairman Position
By Movieguide® Contributor
Fox News announced that Rupert Murdoch will step down as chairman of the news empire he created, leaving his son, Lachlan Murdoch, to assume his role.
Lachlan will take over as chairman of both of Rupert’s news companies—Fox and News Corp.—which operate the Fox News Channel, The Wall Street Journal, The Times and The Sun in the U.K.
Rupert will move into an emeritus position and plans to continue to play an everyday role in the companies’ future, particularly in their business strategy.
“I have been engaged daily with news and ideas, and that will not change,” Rupert said in a memo. “The time is right for me to take on different roles.”
“The time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies,” Rupert added.
“On behalf of the Fox and News Corp boards of directors, leadership teams, and all the shareholders who have benefitted from his hard work, I congratulate my father on his remarkable 70-year career,” Lachlan said.
“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted. We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies,” he continued.
Leading up to this announcement, there was much speculation as to who would succeed Rupert as Chairman of the companies. While Lachlan’s brother, James, is older, he holds starkly different political views from his brother and father, while Lachlan is more in line with the right-wing and conservative media that the companies run.
As he steps away from his chairman position, Rupert is optimistic about the future of his companies.
“Our opportunities far exceed our commercial challenges,” Rupert said. “we have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for freedom of speech and, ultimately, freedom of thought, has never been more intense.”
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